Waterfront Wealth Inc. Has $406,000 Holdings in Kyndryl Holdings, Inc. (NYSE:KD)

Waterfront Wealth Inc. cut its stake in Kyndryl Holdings, Inc. (NYSE:KD - Free Report) by 76.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,915 shares of the company's stock after selling 41,615 shares during the period. Waterfront Wealth Inc.'s holdings in Kyndryl were worth $406,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KD. Jag Capital Management LLC raised its stake in shares of Kyndryl by 3,273.7% during the 1st quarter. Jag Capital Management LLC now owns 285,450 shares of the company's stock worth $8,963,000 after buying an additional 276,989 shares in the last quarter. Money Concepts Capital Corp boosted its stake in shares of Kyndryl by 4.3% during the first quarter. Money Concepts Capital Corp now owns 29,869 shares of the company's stock valued at $938,000 after acquiring an additional 1,242 shares during the last quarter. Total Wealth Planning & Management Inc. purchased a new position in shares of Kyndryl during the first quarter valued at approximately $310,000. Harbour Capital Advisors LLC lifted its holdings in shares of Kyndryl by 14.8% during the 1st quarter. Harbour Capital Advisors LLC now owns 30,690 shares of the company's stock worth $951,000 after acquiring an additional 3,965 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Kyndryl by 19.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,591 shares of the company's stock valued at $741,000 after buying an additional 3,894 shares during the period. 71.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Kyndryl

In other Kyndryl news, SVP Vineet Khurana sold 26,451 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $39.14, for a total transaction of $1,035,292.14. Following the completion of the sale, the senior vice president owned 73,278 shares of the company's stock, valued at $2,868,100.92. This represents a 26.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Susquehanna decreased their target price on Kyndryl from $46.00 to $43.00 and set a "positive" rating for the company in a report on Wednesday, April 23rd. Wall Street Zen upgraded Kyndryl from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 21st. Finally, Oppenheimer upped their price target on shares of Kyndryl from $43.00 to $47.00 and gave the company an "outperform" rating in a report on Tuesday, May 13th.

Kyndryl Price Performance

Kyndryl stock traded up $0.43 during trading hours on Wednesday, hitting $42.39. 2,060,762 shares of the company traded hands, compared to its average volume of 2,007,622. The firm has a market cap of $9.81 billion, a P/E ratio of 41.16, a P/E/G ratio of 0.94 and a beta of 1.93. Kyndryl Holdings, Inc. has a 1-year low of $21.34 and a 1-year high of $43.61. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 2.29. The firm's 50-day simple moving average is $38.29 and its two-hundred day simple moving average is $36.59.

Kyndryl (NYSE:KD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.77 billion. Kyndryl had a net margin of 1.67% and a return on equity of 15.97%. The company's revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) EPS. As a group, analysts forecast that Kyndryl Holdings, Inc. will post 0.73 earnings per share for the current fiscal year.

About Kyndryl

Kyndryl Holdings, Inc operates as a technology services company and IT infrastructure services provider worldwide. The company offers cloud services; core enterprise and zCloud services; application, data, and artificial intelligence services; digital workplace services; security and resiliency services; and network services and edge services.